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The Guardian - US
The Guardian - US
Environment
Callum Jones and Dharna Noor

Exxon reinforces support for fossil fuels with deal to buy shale giant for $60bn

Exxon Pioneer Oil Pioneer Natural Resources ExxonMobil Darren Woods Joe Biden Scott Sheffield
ExxonMobil and Pioneer Natural Resources logos
ExxonMobil buys Pioneer Natural Resources for $59.5bn. Photograph: Dado Ruvić/Reuters

Oil giant ExxonMobil agreed to buy the shale group Pioneer Natural Resources for $59.5bn in a deal that places a vast bet on a future for fossil fuel production in the United States.

America’s largest oil and gas deal in more than two decades will increase Exxon’s dominance in the Permian Basin shale field, at the heart of the country’s transformation into the world’s biggest oil producer.

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